For the first time in Azerbaijan, a list of state-owned enterprises has been compiled and approved, in which it is planned to attract private investment. An appropriate decree was signed the head of state on August 31. The list includes 8 companies and enterprises. These include “International Bank of Azerbaijan” OJSC, “Aztelekom Software”, “Baku Telephone Communication Software”, “AzerGold” CJSC, “Azerbaijan Caspian Shipping Company” CJSC, as well as three SOCAR enterprises (ethylene-polyethylene, carbamide and methanol plants). The decision was adopted to continue institutional reforms, restructuring and rehabilitation measures at state-owned enterprises, attract private investment by reducing the share of state participation, expanding the participation of citizens of the Republic of Azerbaijan in the management of state-owned enterprises and the development of the securities market, the decree notes. Add that appropriate state bodies have been instructed to submit proposals on restructuring and rehabilitation, assessment of the optimal ratio of obligations and authorized capital of the listed economic entities and their investment needs, and identification of potential investors within a nine-month period. The possibility of liberalization and demonopolization in the sphere of activity of the listed entities will also be studied in view of the competitive environment of the market. In the future, the government will specify a part to be denationalized in these enterprises and the methods of their partial sale
Source: Turan News Agency